UBS: Raises Micron Target Price to $1625, Maintains 'Buy' Rating

Odaily Odaily reported that UBS has released a report raising its earnings forecast for Micron Technology (MU.O). The report states that long-term agreements have been firmly implemented in most areas of the industry, and the company's earnings per share (EPS) are expected to remain stable above $100 between 2027 and 2029. Consequently, the target price has been raised from $535 to $1625. UBS has increased its adjusted EPS forecasts for Micron for fiscal years 2026-2028 by 8-25%, to $63.74, $142.23, and $169.64 respectively. The bank maintains a 'Buy' rating and believes the market will begin to assign a more normal valuation multiple to the stock. (Jin Shi)